At the End of Its First Year of Operations, Lockerbie

question 174

Multiple Choice

At the end of its first year of operations, Lockerbie and Role Company has total assets of $3,000,000 and total liabilities of $1,200,000. The owner originally invested $200,000 in the business, but has not made any further investments or taken any withdrawals. What is the first year's profit for Lockerbie and Role Company?

• A) $1,600,000
• B) $1,800,000
• C) $1,000,000
• D) $3,000,000
• E) $3,200,000

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A disorder in which an individual experiences excessive fear or anxiety regarding separation from home or an attachment figure.

Encopresis

A condition in children characterized by involuntary defecation in inappropriate places, beyond the age at which toilet training is usually completed.

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Attention Deficit Hyperactivity Disorder, a neurodevelopmental disorder characterized by patterns of inattention, hyperactivity, and impulsivity.

Behavioral Therapy

A type of psychotherapy that focuses on changing undesirable behaviors through reinforcement strategies.